Asia-Pacific Retail Handbook - June 2012

ASIA-PACIFIC RETAILING – OVERVIEW
Report introduction and background
Report structure
Figure 1: Standard internet codes for countries in the Asia-Pacific region
Currency exchange rates
Figure 2: Asia-Pacific currencies against the US$, 2007-11
Figure 3: Asia-Pacific currencies against the €, 2007-11
Summary
Developed and developing
Figure 4: Asia-Pacific region: Market attractiveness, 2011
Figure 5: Asia-Pacific region: Market attractiveness, 2011
Figure 6: Asia-Pacific region: Market attractiveness, 2011
Battling inflation
Figure 7: Asia-Pacific region: Market attractiveness, 2011
Economic recovery
Population
Figure 8: Europe, North America and Asia-Pacific region: Population, 2011
Figure 9: Asia-Pacific region: Population, by country, 2007-11
Figure 10: Asia-Pacific: Regional population, by country, 2011
Figure 11: Asia-Pacific: Population growth rates, 2007-11
GDP
Figure 12: Asia-Pacific region: GDP at current prices, by country, 2007-11
Figure 13: Asia-Pacific region: GDP growth in local currencies, 2007-11
Figure 14: Asia-Pacific region: GDP at constant prices growth in local currencies, 2007-11
Figure 15: Asia-Pacific region: GDP growth forecast, 2012
GDP per capita
Figure 16: Asia-Pacific region: GDP per capita, 2007-11
Figure 17: Asia-Pacific region: GDP per capita, 2007-11
Retail sales
Figure 18: Asia-Pacific region: Retail sales, by country, 2011
Figure 19: Asia-Pacific region: Retail sales per capita, by country, 2011
Figure 20: Asia-Pacific region: Retail sales growth (in local currency), 2007-11
Leading retailers
Figure 21: Asia-Pacific region: Leading retailers, 2010/11 and 2011/12
AUSTRALIA
Key facts
 THE AUSTRALIAN RETAIL SCENE
Economic development
Minority government
Retail growth stalls
Strong domestic operators
 AUSTRALIA IN FIGURES
Population
Figure 22: Australia: Population trends, 2001-11
Figure 23: Australia: Population growth rates, 2011/12
Figure 24: Australia: Population by major age group, 2011
Economy
Figure 25: Australia: GDP, 2002-11
Figure 26: Australia: Consumer expenditure, 2002-11
Figure 27: Australia: breakdown of household consumption expenditure, 2006/07-2010/11
Figure 28: Australia: Inflation, 2006-11
 THE AUSTRALIAN RETAIL SECTOR
Figure 29: Australia: Retail sales, 2006/07-2010/11
Figure 30: Australia: Identified leading retailers, 2010/11 and 2011/12
CHINA
Key facts
 THE CHINESE RETAIL SCENE
Human rights issues
Reaping the rewards
Problems remain
Rise of modern retail
Foreign retailers invest
 CHINA IN FIGURES
Population
Figure 31: China: Population trends, 2001-10
Figure 32: China: Population key statistics, 1953-2010
Economy
Figure 33: China: Gross domestic product, 2001-11
Figure 34: China: Household consumer expenditure, 2001-10
Figure 35: China: Breakdown of household consumer expenditure by category and place of residence, 2006-10
Figure 36: China: Inflation, 2002-11
The Chinese retail sector
Figure 37: China: Retail sales, 2005-11
Figure 38: China: Retail sales, by type of outlet, 2010
Figure 39: China: Retail data by region, 2009
Figure 40: China: Retail outlets and employees, 2009 and 2010
Figure 41: China: Retail outlets, by format, 2009
Figure 42: China: Top 100 retail chains, 2011
High food investment
Figure 43: China: Leading food retailers, 2011
High disposable incomes increase discretionary spend
Figure 44: China: Leading electrical specialists, 2011
Figure 45: China: Leading department store operators, 2011
Foreign players increasing
Figure 46: China: Leading foreign retailers, 2011
HONG KONG
Key facts
 THE HONG KONG RETAIL SCENE
A service based economy
China aiding recovery from the downturn
Retail market leaders looking for growth abroad
A receptive climate for foreign investment, but rents are very high
 HONG KONG IN FIGURES
Population
Figure 47: Hong Kong: Population by gender, 2007-11
Figure 48: Hong Kong: Population by age and gender, 2011
Figure 49: Hong Kong: Household statistics, 2006-11
Economy
Figure 50: Hong Kong: Gross domestic product, 2001-11
Figure 51: Hong Kong: Private consumption expenditure, 2001-11
Figure 52: Hong Kong: Breakdown of household monthly expenditure, 2009/10
Figure 53: Hong Kong: Consumer prices, 2002-11
The Hong Kong retail sector
Figure 54: Hong Kong: Retail sales (excl sales tax), 2007-11
Figure 55: Hong Kong: Retail sales by sector (excl sales tax), 2010-11
Figure 56: Hong Kong: Retail establishments and employment, 2007-11
Figure 57: Retail establishments (outlets) by sector, 2007-11
Figure 58: Hong Kong: Identified leading retailers, 2010-11
INDIA
Key facts
 THE INDIAN RETAIL SCENE
World’s largest democracy
Economic reform
Census 2011
Regional limitations
Economy beginning to slow
Half-hearted liberalisation
Organising retail
 INDIA IN FIGURES
Population
Figure 59: India: Population by gender, 2011
Figure 60: India: Estimated population, 2006-11
Figure 61: India: Population projections by age group, 2006, 2011 and 2016
Figure 62: India: Projected population by region, 2008-10; and provisional census population, by region, 2011
Economy
Figure 63: India: Gross domestic product, 2004/05-2010/11
Figure 64: India: Consumer price index, 2007-11
Figure 65: India: Consumer expenditure, 2000/01-2010/11
Figure 66: India: Consumer expenditure by category (inc sales tax), 2006/07-2009/10
The Indian retail sector
Figure 67: India: Estimated retail sales, 2007-11
Figure 68: India: Leading identified retailers, 2010/11-2011/12
INDONESIA
Key facts
 THE INDONESIAN RETAIL SCENE
Politics
A large and rapidly growing sector
Strong growth forecast
Exciting retail opportunities
Foreign players keen to benefit
Domestic players have ambitions too
Protecting domestic operators
 INDONESIA IN FIGURES
Population
Figure 69: Indonesia: Population, 2006-10
Figure 70: Indonesia: Population, by gender, 2001-11
Figure 71: Indonesia: Population, by age and gender, 2010
Economy
Figure 72: Indonesia: Gross domestic product, 2002-11
Figure 73: Indonesia: Inflation, 2002-11
Figure 74: Indonesia: Consumer expenditure, 2001-10
The Indonesian retail market
Figure 75: Indonesia: Estimated retail sales, 2007-11
Figure 76: Indonesia: Identified leading retailers, 2010/11 and 2011/12
JAPAN
Key facts
 THE JAPANESE RETAIL SCENE
The end of the economic miracle
A stuttering giant
Loss of status
Underperforming retail sector
Foreign entrants
 JAPAN IN FIGURES
Population
Figure 77: Japan: Estimated population, by gender, 2005-12
Figure 78: Japan: Estimated population, by gender and age, 2011
Figure 79: Japan: Summary estimated population, by age, 2011
Figure 80: Japan: Population, by prefecture, 2011
Figure 81: Japan: Households by household size, 1990, 1995, 2000, 2005 and 2010
Economy
Figure 82: Japan: GDP at current and constant prices, 2002-11
Figure 83: Japan: Inflation, 2007-11
Figure 84: Japan: Household consumer expenditure, 2002-11
Figure 85: Japan: Household consumer expenditure, detailed breakdown, 2005-09
 THE JAPANESE RETAIL SECTOR
Figure 86: Japan: Retail sales by major category, 2007-11
Figure 87: Japan: Retail sales by department stores and supermarkets, 2007-11
Figure 88: Japan: Identified leading retailers, 2010/11 and 2011/12
MALAYSIA
Key facts
 THE MALAYSIAN RETAIL SCENE
Economic development
FDI facing new challenges
Economic prospects
Subsidies retained for now
Popular appeal – with suppression of dissent
 MALAYSIA IN FIGURES
Population
Figure 89: Malaysia: Estimated population by gender, 2001-12
Figure 90: Malaysia: Total official population, 2007-11
Figure 91: Malaysia: Population by age group and gender, 2010
Figure 92: Malaysia: Population by age group, 2007-10
Economy
Figure 93: Malaysia: Gross domestic product, 2001-11
Figure 94: Malaysia: Consumer expenditure, 2001-11
Figure 95: Malaysia: Inflation, 2007-11
The Malaysian retail sector
Figure 96: Malaysia: Retail sales, 2007-11
Figure 97: Malaysia: Breakdown of retail sales, 2008-11
Figure 98: Malaysia: Retail employment, 2008-11
Figure 99: Malaysia: Identified leading retailers, 2010/11-2011/12
NEW ZEALAND
Key facts
 THE NEW ZEALAND RETAIL SCENE
Retail mainly domestic but Australian interests growing
Retail environment remains challenging
Recent M&A activity
The earthquakes
 NEW ZEALAND IN FIGURES
Population
Figure 100: New Zealand: Population trends, 2007-11
Figure 101: New Zealand: Population by age group and gender, 2011
Figure 102: New Zealand: Population by major regions, 2006-11
Economy
Figure 103: New Zealand: Gross domestic product, 2001-12
Figure 104: New Zealand: Consumer expenditure, 2001-12
Figure 105: New Zealand: Detailed breakdown of consumer expenditure, 2007-11
Figure 106: New Zealand: Inflation, 2006-11
 THE NEW ZEALAND RETAIL SECTOR
Figure 107: New Zealand: Retail sales, 2006/07-2011/12
Figure 108: New Zealand: Retail sales by category, 2006/07-2010/11
Figure 109: New Zealand: Retail enterprises by sector, 2006/07-2010/11
Figure 110: Retail outlets by sector, 2006/07-2010/11
Figure 111: New Zealand: Retail employment by sector, 2006/07-2010/11
Figure 112: New Zealand: Detailed Retail Statistics by sector, 2010/11
Figure 113: New Zealand: Identified leading retailers, 2009/10 and 2010/11
PAKISTAN
Key facts
 THE PAKISTANI RETAIL SCENE
Rapid growth
Modern day
National problems
Fragmented, underdeveloped – but growing fast
Lacking foreign investment in retail
UK leads investment
Moving into India
 PAKISTAN IN FIGURES
Population
Figure 114: Pakistan: Population at mid-year by gender, 2007-11
Figure 115: Pakistan: Population, by gender and age, 2011
Economy
Figure 116: Pakistan: GDP at current and constant prices, 2005/06-2011/12
Figure 117: Pakistan: Inflation, 2006/07-2010/11
Figure 118: Pakistan: Private consumer expenditure, 2005/06-2011/12
The Pakistani retail sector
Figure 119: Pakistan: Retail and wholesale sales, 2007/08-2011/12
Figure 120: Pakistan: Identified major retailers, 2010/11-2011/12
THE PHILIPPINES
Key facts
 THE PHILIPPINES RETAIL SCENE
Independence in 1946
Political and economic instability
Reforms launched
2000 Retail Trade Liberalisation Act
Remittances boost spending
Resilient economy
Traditional retail fading
 THE PHILIPPINES IN FIGURES
Population
Figure 121: Philippines: Population projections, 2007-12
Figure 122: Philippines: Projected population, by age and gender, 2010
Economy
Figure 123: Philippines: Gross domestic product, 2001-11
Figure 124: Philippines: Households’ consumption expenditure, 2001-11
Figure 125: Philippines: Consumer prices inflation, 2007-11
Figure 126: Philippines: Consumer prices inflation, selected categories, 2010-11
The Philippines retail sector
Figure 127: Philippines: Retail sales, 2007-11
Figure 128: Philippines: Breakdown of retail data, 2009
Figure 129: Philippines: Leading identified retailers, 2010/11-2011/12
SINGAPORE
Key facts
 THE SINGAPOREAN RETAIL SCENE
An affluent market
Strong economic growth – for now
Productivity efforts
Sector trends
 SINGAPORE IN FIGURES
Population
Figure 130: Singapore: Population by gender, 2001-11
Figure 131: Singapore: Population of Singapore residents, by age and gender, 2011
Economy
Figure 132: Singapore: Gross domestic product, 2001-11
Figure 133: Singapore: Consumer spending, 2003-11
Figure 134: Singapore: Consumer expenditure breakdown, current prices, 2007-11
Figure 135: Singapore: Consumer prices inflation, 2007-11
The Singaporean retail sector
Figure 136: Singapore: Operating receipts in retailing, 2007-11
Figure 137: Singapore: Operating receipts by major retail sector, 2008-10
Figure 138: Singapore: Operating receipts by retail sector, 2010
Figure 139: Singapore: Retail sales indices: Annual % growth, 2007-11
Figure 140: Singapore: Number of establishments and number employed in retailing, 2010
Figure 141: Singapore: Identified leading retailers, 2010/11-2011/12
SOUTH KOREA
Key facts
 THE SOUTH KOREAN RETAIL SCENE
New beginnings?
Economic transformation
Online leadership
M&As, IPOs, and auctions
Convenience store sector
Korea important for Tesco
Small traders win battles
 SOUTH KOREA IN FIGURES
Population
Figure 142: South Korea: Population trends, 2000, 2005 and 2010
Figure 143: South Korea: Population projections, 2007-12
Figure 144: South Korea: Population projection, by age group, 2007-12
Economy
Figure 145: South Korea: Gross domestic product, 2001-11
Figure 146: South Korea: Private consumption expenditure, current and constant prices, 2001-11
Figure 147: South Korea: Households’ consumption expenditure by category, 2009-11
Figure 148: South Korea: Consumer prices inflation, 2007-11
The South Korean retail sector
Figure 149: South Korea: Retail sales by store type, 2007-11
Figure 150: South Korea: Retail sales by product category, 2007-11
Figure 151: South Korea: Identified leading retailers, 2010/11-2011/12
SRI LANKA
Key facts
 THE SRI LANKAN RETAIL SCENE
Freeing the economy
Years of uncertainty
Post-war planning
Developing service sectors
Retail characteristics
 SRI LANKA IN FIGURES
Population
Figure 152: Sri Lanka: Population, 2007-11
Figure 153: Sri Lanka: Population, by gender and age, 2011
Figure 154: Sri Lanka: Population by district, 2010
Economy
Figure 155: Sri Lanka: GDP at current and constant prices, 2002-11
Figure 156: Sri Lanka: Inflation, 2007-11
Figure 157: Sri Lanka: Consumer expenditure, 2002-11
Figure 158: Sri Lanka: Breakdown of average annual household consumer expenditure by major category, 2006/07 and 2009/10
The Sri Lankan retail sector
Figure 159: Sri Lanka: Retail and wholesale sales, 2007-11
Figure 160: Sri Lanka: Identified leading retailers, 2010/11-2011/12
TAIWAN
Key facts
 THE TAIWANESE RETAIL SCENE
Taiwan breaks away from China
Export-driven economy in recovery
Talking to China
Eased visit restrictions
Opportunities for Western specialists
 TAIWAN IN FIGURES
Population
Figure 161: Taiwan: Population by gender, 2001-11
Figure 162: Taiwan: Population, by age group and gender, 2010
Economy
Figure 163: Taiwan: Gross domestic product, 2001-11
Figure 164: Taiwan: Consumer expenditure, 2001-11
Figure 165: Taiwan: Private final consumption expenditure, 2007-10
Figure 166: Taiwan: Inflation, 2007-11
Figure 167: Taiwan: Inflation breakdown, 2011
The Taiwanese retail sector
Figure 168: Taiwan: Retail sales, 2007-11
Figure 169: Taiwan: Retail sales by sector, 2007-11
Figure 170: Taiwan: Identified leading retailers, 2010/11-2011/12
THAILAND
Key facts
 THE THAI RETAIL SCENE
Elections offer prospect of increased stability
After the flood
Modernisation and FDI
Regulation back on the table
 THAILAND IN FIGURES
Population
Figure 171: Thailand: Population, 2007-11
Figure 172: Thailand: Non-foreign population, by age band and gender, 2011
Economy
Figure 173: Thailand: Gross domestic product, 2001-11
Figure 174: Thailand: Consumer expenditure, 2001-11
Figure 175: Thailand: Detailed breakdown of private consumer expenditure, 2007-11
Figure 176: Thailand: Inflation, 2007-11
The Thai retail sector
Figure 177: Thailand: Retail sales, 2007-11
Figure 178: Thailand: Breakdown of retail sales, 2007-10
Figure 179: Thailand: Identified leading retailers, 2010/11-2011/12
VIETNAM
Key facts
 THE VIETNAMESE RETAIL SCENE
Post war recovery
Continued development
Recent past
FDI heightens competition
 VIETNAM IN FIGURES
Population
Figure 180: Vietnam: Population by gender, 2007-11
Figure 181: Vietnam: Population, by gender and age, 2011
Figure 182: Vietnam: Population by major region, 2007-10
Economy
Figure 183: Vietnam: GDP at current and constant prices, 2001-11
Figure 184: Vietnam: Inflation, 2007-11
Figure 185: Vietnam: Private consumer expenditure, 2001-11
The Vietnamese retail sector
Figure 186: Vietnam: Retail sales, 2007-11
Figure 187: Vietnam: Distribution of retail sales by province/district, 2010
Figure 188: Vietnam: Identified major retailers, 2010/11-2011/12
AEON
Recent history
Financial performance
Figure 189: Aeon: Group financial performance, 2006/07-2010/11
Figure 190: Aeon: Group financial performance, 2010/11-2011/12
Store portfolio
Figure 191: Aeon: Outlet data, 2006/07-2011/12
Retail offering
e-commerce and home shopping
BAILIAN GROUP
Recent history
Financial performance
Figure 192: Bailian Group: Group financial performance, 2007-11
Store portfolio
Figure 193: Bailian Group: Outlet data, 2007-11
Retail offering
e-commerce and home shopping
DAIRY FARM INTERNATIONAL HOLDINGS LTD
Recent history
Financial performance
Figure 194: Dairy Farm: Estimated % contribution to retail turnover, by territory, 2011
Figure 195: Dairy Farm: Estimated sales for major territories, 2009-11
Figure 196: Dairy Farm: Sales by region, 2007-11
Figure 197: Dairy Farm: % contribution to retail turnover, by retail format, 2010 & 2011
Figure 198: Dairy Farm: Turnover by retail format, 2007-11
Store portfolio
Figure 199: Dairy Farm: Retail outlets by territory, 2007-11
Figure 200: Dairy Farm: Outlets by operation, fascia & territory, 2007-11
Retail offering
e-commerce and home shopping
DASHANG GROUP
Recent history
Financial performance
Figure 201: Dashang Group: Group financial performance, 2007-11
Store portfolio
Figure 202: Dashang Group: Outlet data, 2007-11
Retail offering
e-commerce and home shopping
FAMILYMART
Recent history
Financial performance
Figure 203: FamilyMart: Group financial performance, 2007/08-2011/12
Store portfolio
Figure 204: FamilyMart: Outlet data, 2007/08-2011/12
Retail offering
Figure 205: FamilyMart, sales mix – Japanese stores, 2009/10-2011/12
e-commerce and home shopping
GOME ELECTRICAL APPLIANCES HOLDING LTD
Recent history
Financial performance
Figure 206: Gome: Financial data, 2007-11
Figure 207: Gome: Retail sales by product category, 2010 and 2011
Store portfolio
Figure 208: Gome: Outlet data, 2007-11
Figure 209: Gome: Distribution of stores by region, 2010 and 2011
Figure 210: Gome: Outlet breakdown by fascia, format and type of market, 2011 (2010 figures in brackets)
Retail offering
e-commerce and home shopping
ISETAN-MITSUKOSHI HOLDINGS
Recent history
Financial performance
Figure 211: Isetan-Mituskoshi: Group financial performance, 2007/08-2011/12
Figure 212: Isetan-Mitsukoshi: Department store sales by country, 2008/09-2010/11
Store portfolio
Figure 213: Isetan-Mituskoshi: Department store numbers by country, 2010-11
Retail offering
Figure 214: Isetan-Mitsukoshi: Sales by product category, 2010/11
e-commerce
J.FRONT RETAILING
Recent history
Financial performance
Figure 215: J.Front Retail: Financial performance, 2007/08-2011/12
Store portfolio
Figure 216: J.Front Retail: Department store portfolio, 2012
Retail offering
e-commerce
LAWSON
Recent history
Financial performance
Figure 217: Lawson: Financial data, 2007/08-2011/12
Store portfolio
Figure 218: Lawson: Outlet data: 2007/08-2011/12
Retail offering
Figure 219: Lawson: Major fascias, 2012
e-commerce and home shopping
LOTTE SHOPPING/KOREA SEVEN
Recent history
Financial performance
Figure 220: Lotte Shopping: Group financial performance, 2007-11
Figure 221: Lotte Shopping: Breakdown of retail revenues by type of operation, 2010 and 2011
Figure 222: Lotte Shopping: Retail operations financial performance, 2007-11
Store portfolio
Figure 223: Lotte Shopping: Outlet data, 2007-11
Retail offering
e-commerce and home shopping
RT MART/AUCHAN
Recent history
Financial performance
Figure 224: Sun Art Retail Group, China: Financial performance, 2008-11
Figure 225: RT Mart, Taiwan: Estimated financial performance, 2008-11
Store portfolio
Figure 226: RT Mart/Auchan: Outlet data, 2007-11
Figure 227: RT Mart/Auchan: Distribution of Chinese stores by region, 2010
Retail offering
e-commerce
SEVEN & I HOLDINGS CO. LTD
Recent history
Financial performance
Figure 228: Seven & I Holdings: Financial performance by division, 2007/08-2011/12
Store portfolio
Figure 229: Seven & I Holdings: Japanese store network, 2007/08-2011/12
Retail offering
Figure 230: Seven & I Holdings: Retail offering 2012
e-commerce and home shopping
SUNING APPLIANCE CO LTD
Recent history
Financial performance
Figure 231: Suning: Financial data, 2007-11
Store portfolio
Figure 232: Suning Corp: Outlet data, 2007-11
Retail offering
e-commerce and home shopping
TESCO
Recent history
Financial performance
Figure 233: Tesco:  Asian sales data breakdown by country, 2007/08-2011/12
Store portfolio
Figure 234: Tesco:  Asian outlet data, 2007/08-2011/12
Retail offering
Figure 235: Tesco: Major Asia Pacific retail fascias, 2012
e-commerce and home shopping
THE DAIEI
History
Financial performance
Figure 236: The Daiei: Group financial performance, 2007/08-2011/12
Store portfolio
Figure 237: The Daiei: Outlet data, 2006/07-2010/11
Retail offering
e-commerce and home shopping
UNY
History
Financial performance
Figure 238: Uny: Group financial performance, 2007/08-2011/12
Segment performance
Figure 239: Uny: Net retail sales by business segment, 2007/08-2010/11
Store portfolio
Figure 240: Uny: Outlet data, years to February, 2007-11
Retail offering
Sales mix
Figure 241: Uny: Sales mix, years to February, 2009-11
Figure 242: Uny: Detailed sales mix, year to February 2011
e-commerce and home shopping
WAL-MART
Recent history
Financial performance
Figure 243: Wal-Mart China: Financial data, 2007-11
Figure 244: Seiyu: Financial data, 2007-11
Store portfolio
Figure 245: Wal-Mart China: Outlet data: 2006/07-2010/11
Figure 246: Seiyu: Outlet data: 2007-11
Retail offering
Figure 247: Wal-Mart Asia: Major fascias 2012
e-commerce and home shopping
WESFARMERS
Recent history
Financial performance
Figure 248: Wesfarmers: Sales data breakdown by retail division, 2007/08-2010/11
Store portfolio
Figure 249: Wesfarmers: Outlet data: 2008/09-2011/12
Retail offering
Figure 250: Wesfarmers: Main retail chains, 2011
e-commerce and home shopping
WOOLWORTHS AUSTRALIA
Recent history
Financial performance
Figure 251: Woolworths Australia: Financial data, 2006/07-2010/11
Store portfolio
Figure 252: Woolworths Australia: Outlet data: 2007/08-2011/12
Retail offering
Figure 253: Woolworths Australia: Main retail chains, 2012
e-commerce and home shopping
YAMADA DENKI
History
Financial performance
Figure 254: Yamada Denki: Group financial performance, 2007/08-2011/12
Store portfolio
Figure 255: Yamada Denki: Outlet data, 2007/08-2011/12
Retail offering
Figure 256: Yamada Denki: Sales by product category, 2010/11
e-commerce and home shopping